I really don't think it's that bad. Its worst aspects are the fact that Tom Hardy was too young at the time to carry off the villain well, the plot was a TWOK rehash and Stuart Baird was simply no good for Trek because he didn't get it and didn't care to learn about what made the TNG crew a close knit family. Indeed, if you watch the deleted scenes on the Special Edition DVD this becomes all too evident, particualry in his choice to cut the Picard/Data wine scene, which would've added so much more depth and meaning to both Data's demise and also the wine toast given by the crew. afterwards. You can see it here.
Otherwise I think it's quite good. It has decent pace, the special effects are far superior to those in Isurrection (which looked like cartoons) and the score is great.